More than 160 tech company executives from around the world have sent an open letter to European Union lawmakers urging them to carefully consider artificial intelligence (AI) regulations so as not to hinder the industry or markets.
Today, executives of companies such as Renault, Meta, Spanish telecommunications firm Cellnex and German investment bank Berenberg commented proposed EU law on artificial intelligence, that could jeopardize competitiveness and innovation in the region..
In particular, the letter warns that the EU’s proposed rules will lead to strict regulation of productive AI tools and entail liability risks and high compliance costs for companies developing such technologies.
On 14 June, two weeks before the letter, the European Parliament first EU AI lawIt includes legislation mandating tools like ChatGPT. Expose all AI-generated content and other measures against illegal content.
In addition, currently the law aims to prohibit the use of some AI services and products. Technologies such as biometric surveillance, social scoring systems, predictive policing, so-called “emotion recognition” and non-targeted facial recognition systems have been broadly banned.
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Before the bill becomes law, Individual negotiations will take place between Members of Parliament to finalize the details of the EU AI Law. The latest letter comes as tech companies still have time to petition lawmakers for softer measures.
The day before the letter was published, the head of Microsoft himself went to europe discussing how best to regulate AI with regulators.
In May, OpenAI CEO Sam Altman also addressed European regulators in Brussels. He warned of the potential negative effects of overregulation on the AI industry.
Head of the EU technology sector, blockade and the United States Lawmakers come together to create a voluntary “AI code of conduct” to be enforced as they finalize more permanent measures.
In March, more than 2,600 tech industry leaders and researchers, including Elon Musk, sent another open letter. But he wanted one temporary break on further development of AI, which requires regulation.
Translation of Walter Rizzo